Olivetti Profit Off 4th Straight Year

April 25, 1991

Citing depressed demand for computers in Europe and the U.S. as well as currency exchange-rate factors, Italy`s Ing. C. Olivetti and Co. SPA said its consolidated earnings plunged 70 percent in 1990. It was the fourth consecutive year of shrinking profits for the computer maker. The company said it is suspending payment of dividends on its common shares.